Institute of Certified Bookkeepers
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Bookkeeping for Water Broker

  • Member in Practice
  • Practice Certificate
  • 1 post
  • # 117700

Hi

 

I have a new client who has been doing her own bookkeeping as a Water Broker.  She does a sales invoice to the purchaser and an RCTI to the seller.  She charges gst on the commission but has the water and transfer fees as not reportable on her BAS.  I am just checking if this is correct. 

 

Thank you for any help

SueT

  • 4 posts
  • # 117718

SueT said:

Hi

Water brokers play an important role in the water market. Brokers perform a similar function to mortgage brokers, as they investigate trading options on behalf of their clients and arrange the necessary paperwork. GST is charged on the commission that the broker is receiving but I am not getting what transfer fees should be reported on BAS? is it agreement transfer fees?

I would recommend you to request a free 45-minute consultation with our Bookkeeping experts by calling 1300776956 or email  at allison@efficiencypartners.com.au for detailed information.


Thanks!

 

I have a new client who has been doing her own bookkeeping as a Water Broker.  She does a sales invoice to the purchaser and an RCTI to the seller.  She charges gst on the commission but has the water and transfer fees as not reportable on her BAS.  I am just checking if this is correct. 

 

Thank you for any help

SueT


 

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